Seven Eight Capital LP Takes $589,000 Position in United States Cellular Co. (NYSE:USM)

Seven Eight Capital LP bought a new position in shares of United States Cellular Co. (NYSE:USM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,559 shares of the Wireless communications provider’s stock, valued at approximately $589,000.

Several other large investors have also recently modified their holdings of USM. Summit Securities Group LLC bought a new stake in shares of United States Cellular in the second quarter worth $28,000. Quest Partners LLC bought a new stake in shares of United States Cellular in the 4th quarter valued at about $43,000. SG Americas Securities LLC acquired a new stake in shares of United States Cellular in the second quarter valued at about $115,000. Clear Street Markets LLC bought a new position in shares of United States Cellular during the fourth quarter worth about $105,000. Finally, Bailard Inc. acquired a new position in shares of United States Cellular in the 2nd quarter worth approximately $207,000. Institutional investors own 18.03% of the company’s stock.

United States Cellular Price Performance

USM stock opened at $55.13 on Friday. United States Cellular Co. has a 1 year low of $32.01 and a 1 year high of $60.14. The stock has a market capitalization of $4.69 billion, a PE ratio of 82.28 and a beta of 0.48. The company’s 50-day moving average is $54.41 and its 200-day moving average is $47.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.55 and a quick ratio of 1.39.

United States Cellular (NYSE:USM) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. United States Cellular had a return on equity of 1.55% and a net margin of 1.88%. The firm had revenue of $927.00 million during the quarter, compared to analysts’ expectations of $924.96 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts expect that United States Cellular Co. will post 0.61 EPS for the current fiscal year.

Insider Activity at United States Cellular

In other United States Cellular news, EVP Kevin R. Lowell sold 37,597 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.34, for a total transaction of $1,855,035.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on USM shares. Wells Fargo & Company raised United States Cellular from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $75.00 in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of United States Cellular from $51.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th.

About United States Cellular

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.